Market Overview

Shaquille O'Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

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Propel Venture Partners leads investment in oversubscribed round; Steady
hits 100,000 downloads

Steady,
the income-building platform for the Build-Your-Own (BYO) workforce is
already serving 100,000 Americans since it launched
last week. The company, which today delivers personalized
income-building opportunities, an income tracker, and exclusive relevant
discounts, has raised $9 million in Series A financing round led by
Propel Venture Partners, with significant participation from Omidyar
Network, the impact investing firm established by Pierre Omidyar, the
founder of eBay. The funds raised in this round will be used to rapidly
scale and extend product features. Other investors include 25Madison,
Clocktower Ventures, and Commerce Ventures. Shaquille O'Neal has joined
the team as an Advisor and Advocate for the BYO workforce.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180806005504/en/

Shaquille O'Neal participates in Steady focus group (Photo: Business Wire)

Shaquille O'Neal participates in Steady focus group (Photo: Business Wire)

"The traditional 9-5 career path doesn't work for everyone, and we're
seeing more and more people set out to make their own way. Steady sees
and serves this group, giving them the tools to discover new job
opportunities, and the resources to earn more money and take control,"
said Shaquille O'Neal. "Helping hardworking folks do and get more is an
important mission and I'm excited to be part of it."

Work is changing. Full-time jobs are giving way to more flexible
arrangements—shift work, part-time contracts, gigs, and an endless
combination of these—that create income uncertainty; retirement
resources aren't cutting it for millions of Americans; and the resulting
income mix throws people's relationship to banks and financial products
out of balance. Enter Steady.

"In today's America, the single, upward career path is a false notion
for too many people. A long-term, consistent, path of ascension just
isn't attainable in most industries. People need to create their own,"
said Steady co-founder and lead seed round investor Michael Loeb, from
Loeb Enterprises. "Steady is uniquely built to address a financial
health crisis that's hitting epidemic proportions."

Steady starts by helping BYO workers easily find and apply to
income-building opportunities that match their availability, abilities,
and interests. Whether augmenting retirement savings, working around
childcare responsibilities, leveraging gig opportunities, or
supplementing insufficient income from a primary employer, Steady helps
people earn more.

"Today's workforce faces wage stagnation, underemployment and an
increasing cost of living. All this leads to people just not making
enough money to live the American Dream, and instead they're caught in a
very vulnerable place," said Ryan Gilbert, Partner at Propel Venture
Partners. "We're excited to back Steady in delivering much needed
solutions aimed at the root problem—insufficient earnings. If people are
to thrive in today's changing world, a solution like Steady is
imperative." Gilbert and Propel Venture Partners Vice President David
Mort will be joining Steady's Board of Directors.

The new BYO workforce will be able to rely on Steady to:

  • Build income: Discover and apply for extra income opportunities
    and shifts from large employers, small, and medium businesses and the
    hottest startups (including the top 40 gig economy players)—filtered
    by location, interests, availability, and goals, in addition to
    helping define their overall portfolio of work.
  • Build networks: Monitor relevant community activity, learn from
    peers, uncover new opportunities, and create connections that help
    maximize earning potential.
  • Build buying power: Access a marketplace of exclusive
    benefits—from essentials such as prescriptions and groceries, and
    discounts on major expenses such as auto care and telecom.
  • Build financial cred: Navigating the BYO world can be
    challenging. Steady will later be rolling out its initial financial
    products and advice to optimize this lifestyle. As Steady serves this
    determined and hardworking group, it'll advocate with financial
    institutions and other providers of key financial products that are
    currently hard to access without a traditional single full-time W2 job.

"This undertaking is both enormous and essential," said Adam Roseman,
CEO and founder of Steady. "We are aiming no lower than at rebalancing
the American economy and I couldn't ask to be a part of a more talented
and passionate team for the job."

Steady is available for free on the App
Store
and Google
Play
and at web.steadyapp.com.

About Steady

Steady is the income-building platform for the Build-Your-Own (BYO)
workforce, helping people create financial stability and take charge of
their future. Steady was founded in 2017 by a team with deep experience
in financial services and startups. Anyone can sign up for free on
Steady and find easy, instant access to the work opportunities and
financial resources they need to grow, control, and stabilize their
income. Find out more at www.steadyapp.com.

About Michael Loeb and Loeb Enterprises

Michael
Loeb
is a New York-based veteran entrepreneur who has backed, built,
or funded over fifty successful companies. Chief among his successes are Priceline.com—known
for its travel deals and travel search engine, Synapse (acquired by
Time, Inc.), and Script Relief a 12 million member joint venture with
United Health. Loeb now leads Loeb.NYC and Loeb Enterprises, a
self-funded start-up factory and private investment platform,
respectively, based in New York City and is currently scaling over a
dozen businesses with venture investments in over a dozen more.

About Propel Venture Partners

Propel Venture Partners is a San Francisco-based venture capital firm
focused on investment opportunities at the intersection of technology
and financial services. The Propel team believes the future of financial
services will be realized by rethinking and rebuilding. Propel partners
with technology-driven entrepreneurs who are transforming the market
with their vision and expertise. For more information, visit http://propel.vc/.

About Omidyar Network

Omidyar Network is a philanthropic investment firm dedicated to
harnessing the power of markets to create opportunity for people to
improve their lives. Established in 2004 by eBay founder Pierre Omidyar
and his wife Pam, the organization invests in and helps scale innovative
organizations to catalyze economic and social change. Omidyar Network
has committed more than $1.3 billion to for- profit companies and
nonprofit organizations that foster economic advancement and encourage
individual participation across multiple initiatives, including Digital
Identity, Education, Emerging Tech, Financial Inclusion, Governance &
Citizen Engagement, and Property Rights. You can learn more here: https://www.omidyar.com/.

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